To avail benefit of captive consumption of solar power Aurobindo Pharma has entered into binding agreements to invest Rs.5.382 crores
each in NVNR (Ramannapet I) Power Plant and NVNR (Ramannapet II) Power Plant
, Hyderabad based solar power generating companies, aggregating to Rs. 10.764 crores by subscribing to additional equity shares and/or
other securities of the said solar power generating companies to avail the benefit of captive consumption
of Solar Power.
After making the said investments, the Company will be holding 26% of the share capital in each of the
aforesaid solar power generating companies.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.